BlueOval SK will establish three battery plants in the US. One in Tennessee and two in Kentucky.
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Ford and SK On officially establish their joint venture BlueOval SK.

The joint venture BlueOval SK will establish three battery plants in the US. One in Tennessee and two in Kentucky.

Global automaker Ford Motor Company and South Korean battery maker SK On have officially established their joint venture named BlueOval SK. Both companies have partnered to manufacture electric vehicle batteries in the US.

The two companies will hold equal ownership in the new venture, and the JV will be a consolidated subsidiary of SK On. The board of directors consists of six members, three from each company.

SK On’s CEO David Hahm will be the first CEO, and Ford’s Jiem Cranney will be the first CFO of the JV.

The headquarters of the joint venture is currently located in Georgia. It will move to BlueOval City, which Ford is building in Stanton, Tennessee.

The JV, BlueOval SK, will establish three battery plants. One in Tennessee and two in Kentucky. The total production capacity is 129-gigawatt hours.

Besides the USA, the two companies are also working together in Europe and Turkey. The two companies and Koc Holdings would set up a joint venture in Turkey with a production capacity of 30 to 45 gigawatt-hours.

Also Read: Panasonic Energy to establish a lithium-ion battery plant in Kansas, USA.

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